DSO property prices surge 40%

Prices likely to continue rise driven by high demand

By

Staff

PublishedWednesday, December 05, 2012

Property prices in Dubai Silicon Oasis (DSO) have increased by 40 per cent over the last 12 months.

Investors in Dubai Silicon Oasis are getting high returns on their investments in residential units as well as offices, and there has been a price appreciation of between 35 to 40 per cent in the last 12 months. The prices are expected to continue rise driven by high demand for DSO projects because of the strategic location and high living standards, said Samir Munshi, Managing Director, Silver Heights, the sales division of Orion Holdings, one of the largest property investment companies in the UAE.

Most residential buildings in Dubai Silicon Oasis are equipped with swimming pools, gyms and chiller air conditioning systems. The area is covered by bus service and has a dedicated shuttle bus service that connects with Rashidiya Metro Station.

Munshi said: “Apart from all of the lavish facilities the area offers, owners are mostly attracted by the rate of return they get from their investments. From the investment point, the rise of 35-40 per cent in prices over the past 12 months is a strong indicator that rates are set for a further upward movement. It clearly shows the interest people have developed towards this area because of its strategic location and quality urban lifestyle.”

Munshi added: “Real estate analysis show that Dubai Silicon Oasis is one of the fastest growing residential communities, supported by advanced infrastructure and facilities. We anticipate high demand for the residential units we own in Dubai Silicon Oasis as prices are within the reach of the clientele we are targeting.”

Munshi said that the company has invested heavily in Dubai Silicon Oasis. He announced that the new sales programme launched today allows “customers to own an apartment and live in it by paying 35 per cent of its price only and pay the balance in installments.”